Customers can create an account allowing them to reserve a car online by placing a £250 ($A411) holding deposit. Credit applications are processed within 48 hours with three payments options.

By completing a credit application, the customer can then choose whether to collect their new car from a dealer or have it delivered to their home.

Smart said that the car could be delivered within 12 days.

The company said that dealers would not be left out of the transactions and would be involved in completing the deal or delivering vehicles.

By Neil Dowling